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Sage Hill loans money to Luck Corporation in the amount of $330,000. Sage Hill accepts an 11% note due in 6 years with interest payable
Sage Hill loans money to Luck Corporation in the amount of $330,000. Sage Hill accepts an 11% note due in 6 years with interest payable semiannually. After 2 years (and receipt of interest for 2 years), Sage Hill needs money and therefore sells the note to Denver National Bank, which demands interest on the note of 13% compounded semiannually. What is the amount Sage Hill will receive on the sale of the note? Amount received on sale of note: $
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